Question
Can someone please check my answers to the following accountin question and let me know if they are correct or incorrect? If they are incorrect,
Can someone please check my answers to the following accountin question and let me know if they are correct or incorrect? If they are incorrect, please explain why.
A company's assets are in May are $188,000 and June $244,000 and the liabilities are $122,000 in May and $88,000 in June. For each of the following situations with regard to common stock and dividends of a corporation, compute the amount of net income or net loss during June 2016.
The company issued $7,500 of common stock and paid no dividends.
$148,500
The company issued no common stock. It paid cash dividends of $13,000.
$143,000
The company issued $20,000 of common stock and paid cash dividends of $18,000.
$118,000
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